Despite the bleak numbers, the for-profit hospital operator's leaders have tried to set an optimistic tone.
Shares of Community Health Systems (CHS) stock closed Tuesday at their lowest price ever: just $2.01 apiece.
The Franklin, Tennessee–based for-profit operator of more than 100 hospitals has been struggling for the past five years, shedding more than 80 hospitals from its portfolio as its stock price tumbled from a peak at nearly $53 in 2015.
Chairman and CEO Wayne T. Smith and fellow CHS executives have sought to set an optimistic tone, signaling that the company's long-running divestiture spree may be nearing its end. But some analysts say CHS' problems run deeper than its balance sheets.
The company recorded a first-quarter net loss of $118 million attributed to shareholders. It is slated to release second-quarter financials on August 6.
Steven Porter is an associate content manager and Strategy editor for HealthLeaders, a Simplify Compliance brand.